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The TV Coin Guys are full of it today

 
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Pillar of the Community

United States
2166 Posts
 Posted 09/11/2018  10:19 pm Show Profile   Bookmark this topic Add jimbucks to your friends list Get a Link to this Message
Pumping the 2018 reverse proof Lincoln, they say it is an S-VDB since it is an S-mint with a VDB on the bust. And "much rarer" than the 1909-S VDB (based on mintage of course) and comparing the price. These guys really lay it on thick, trying to trick the average person into buying their stuff for an inflated price. Of course they like to emphasise that it is the rarest S-minted Lincoln EVER!

Bedrock of the Community
10197 Posts
 Posted 09/11/2018  10:28 pm  Show Profile   Bookmark this reply Add Crazyb0 to your friends list Get a Link to this Reply
As long as they keep the suckers buying their crap, maybe they won't have any money left to keep buying up the good stuff I'm trying to get!

Doncha know ya gotta get some bottom feeders to keep you fish tank clean...
Edited by Crazyb0
09/11/2018 10:30 pm
Valued Member
United States
366 Posts
 Posted 09/11/2018  10:37 pm  Show Profile   Bookmark this reply Add ty88ty2 to your friends list Get a Link to this Reply

Quote:
As long as they keep the suckers buying their crap, maybe they won't have any money left to keep buying up the good stuff I'm trying to get!

Doncha know ya gotta get some bottom feeders to keep you fish tank clean...


Crazy has a point...

But yeah, the TV guys are nuts.
Lincoln cents - 3 holes / Jefferson nickels - Done / Roosevelt dimes - Done / Washington quarters - 24 holes /
Kennedy halves - 10 Holes / Buffalo nickels - 10 Holes
Work in progress - Barber/SLQ combined / Indian Head cents / 7070

Valued Member
United States
58 Posts
 Posted 09/11/2018  10:38 pm  Show Profile   Bookmark this reply Add mavs2583 to your friends list Get a Link to this Reply
wow. they've been around for decades so they have been able to get away with it.
Pillar of the Community
United States
2166 Posts
 Posted 09/11/2018  10:39 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
And they always have great bargains compared to "the leading numismatic catalogue".
Pillar of the Community
United States
5592 Posts
 Posted 09/11/2018  10:46 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply
Snake oil salesmen are not an extinct breed - they just have modern refinements/tools.
- When I value " being right" more than what IS right, I am then right...a fool.
- How much squash could a Sasquatch squash if a Sasquatch would squash squash?
- Real men play Fizzbin.
Pillar of the Community
United States
824 Posts
 Posted 09/12/2018  12:36 am  Show Profile   Bookmark this reply Add perfessor to your friends list Get a Link to this Reply
I know the stuff they sell is overpriced and overhyped but I still enjoy watching them pitch their wares. Of course I am not buying it from them but someone is. I think they are actually doing all of the rest of us a favor by getting coin related items out to the general public. Who knows, maybe a few new collectors come out of it also. That's a good thing.
Bedrock of the Community
United States
11059 Posts
 Posted 09/12/2018  12:44 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
And "much rarer" than the 1909-S VDB (based on mintage of course) and comparing the price.


Aside from the over hype that might actually be pretty close to true even based on survival. The S VDB is not remotely rare at all and was saved in huge numbers. PCGS and NGC have graded 10s of thousands of them and Lincolns have a lot of folders and rolls hidden away out there.


Quote:
And they always have great bargains compared to "the leading numismatic catalogue".


That actually is true from what the catalogue charges.
Valued Member
United States
451 Posts
 Posted 09/12/2018  02:46 am  Show Profile   Bookmark this reply Add jst1dreamr to your friends list Get a Link to this Reply

Quote:
But yeah, the TV guys are nuts.


The real nuts are the people that buy from someone who can afford an infomercial but not a booth in a coin show.
Bedrock of the Community
United States
17103 Posts
 Posted 09/12/2018  08:46 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Not just the coin guys. Almost all of the TV sales stuff is nuts. However, I did find myself once fooled into buying a Lap Top computer from HSN. It worked but I later found I had to buy any programs that normally come with computers. To this day I found I should never buy anything I see advertised on TV. I too like to watch Coin Shows on TV. Difficult to imagine people falling for something so easy to look up anywhere.
just carl
Valued Member
United States
97 Posts
 Posted 09/12/2018  10:22 am  Show Profile   Bookmark this reply Add Vermillion Flycatche to your friends list Get a Link to this Reply
What's the old adage? Know your enemy. Worth watching them from time to time to understand how people get suckered and manipulated by hype. Selling products to those without knowledge of numismatics happens in other purchasing venues as well I would wager (shops, booths at shows) but these events are just not as publicly visible.
Moderator
Learn More...
United States
62633 Posts
 Posted 09/12/2018  10:25 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Aside from the over hype that might actually be pretty close to true even based on survival. The S VDB is not remotely rare at all and was saved in huge numbers.
I agree.

Never confuse expensive with rare. If I wanted to fill that 1909-S VDB hole today I could do it. I would have to choose one, not find one. I just do not have the cash for it right now.
Bedrock of the Community
United States
14592 Posts
 Posted 09/12/2018  11:14 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
But yeah, the TV guys are nuts.

Are they? They are making money aren't they? Sounds to me like they know what they are doing.
Gary Schmidt
Moderator
Learn More...
United States
62633 Posts
Pillar of the Community
United States
3523 Posts
 Posted 09/12/2018  1:16 pm  Show Profile   Bookmark this reply Add Lucky Cuss to your friends list Get a Link to this Reply

Quote:
think they are actually doing all of the rest of us a favor by getting coin related items out to the general public. Who knows, maybe a few new collectors come out of it also. That's a good thing.

I disagree vehemently with this rosy line of thinking. When the buyers (or their heirs) go to "cash in" at a reputable dealer, the discovery that they can only eke out as little as like 10% of the purchase price will sour them on coin collecting forever.

There are a few decent TV sellers that aren't doing the hobby harm, but there are also too many hucksters, and this includes some of the mail order charlatans. After my mother's death, I discovered she had (without my knowledge or advice) bought a shipload of numismatic crap as an "investment" - I disposed of it (there was virtually nothing in this material worth keeping) knowing that the loss given what she must've paid was enormous. I see this all the time in the coin shops, folks bringing in inherited "collections" that to their shock are worth only a tiny fraction of the amount the receipts indicate was paid out.

Colligo ergo sum
Edited by Lucky Cuss
09/12/2018 10:51 pm
Valued Member
United States
304 Posts
 Posted 09/12/2018  11:36 pm  Show Profile   Bookmark this reply Add Centsei to your friends list Get a Link to this Reply
If a 1909-S-VDB is not "rare," and I can understand why you would say that, then do you have another good word for what it is? Not a phrase, a word.
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